re: American middle class falling way behind rest of developed world(Posted by C on 6/11/14 at 10:42 am to TejasHorn)

The stats are BS. The US offers many welfare type benefits that greatly increases the actual wealth of our citizens. Australians are in a HUGE real estate bubble. last time I looked the average home was 8-10x their annual salary.

This was a documentary was narrated and originated by Robert Reich, a former US Secretary of Labor under Clinton.

He reviews different ideas, but the major premise is that real American wages, after inflation, have been very stagnant over the past 30 years. The causation comes from different factors, but the doc is very practical and Reich makes points that are hard to argue.

re: American middle class falling way behind rest of developed world(Posted by Oenophile Brah on 6/11/14 at 11:07 am to TejasHorn)

The comparison is foolish. The USA has a population of around 305 million. Australia has 23 million and most of the nations ahead on the median net worth list are much smaller then the USA. Our middle class is larger then all of Australia.